Skba Capital Management LLC Takes Position in Cabot Oil & Gas Co. (COG)
Skba Capital Management LLC bought a new position in Cabot Oil & Gas Co. (NYSE:COG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,500 shares of the oil and gas exploration company’s stock, valued at approximately $227,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new stake in Cabot Oil & Gas Co. in the 2nd quarter worth approximately $100,000. IFP Advisors Inc grew its stake in Cabot Oil & Gas Co. by 11.1% in the 2nd quarter. IFP Advisors Inc now owns 4,569 shares of the oil and gas exploration company’s stock worth $115,000 after acquiring an additional 457 shares during the period. Advisors Asset Management Inc. purchased a new stake in Cabot Oil & Gas Co. in the 3rd quarter worth approximately $130,000. Parallel Advisors LLC grew its stake in Cabot Oil & Gas Co. by 1.4% in the 2nd quarter. Parallel Advisors LLC now owns 5,050 shares of the oil and gas exploration company’s stock worth $126,000 after acquiring an additional 71 shares during the period. Finally, Pinebridge Investments L.P. purchased a new stake in Cabot Oil & Gas Co. in the 2nd quarter worth approximately $163,000. 96.32% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Dan O. Dinges sold 66,610 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $27.92, for a total value of $1,859,751.20. Following the completion of the sale, the chairman now owns 2,887,018 shares of the company’s stock, valued at approximately $80,605,542.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Kelley bought 2,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $27.47 per share, with a total value of $54,940.00. Following the transaction, the director now directly owns 619,500 shares in the company, valued at approximately $17,017,665. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
A number of brokerages have weighed in on COG. Piper Jaffray Companies decreased their price target on shares of Cabot Oil & Gas Co. from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. TheStreet upgraded shares of Cabot Oil & Gas Co. from a “d+” rating to a “c” rating in a report on Friday, October 6th. Barclays PLC reiterated a “buy” rating and issued a $28.00 price target on shares of Cabot Oil & Gas Co. in a report on Wednesday, August 2nd. Williams Capital set a $30.00 price target on shares of Cabot Oil & Gas Co. and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Morgan Stanley upgraded shares of Cabot Oil & Gas Co. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $24.00 to $31.00 in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Cabot Oil & Gas Co. has a consensus rating of “Buy” and a consensus target price of $30.06.
Shares of Cabot Oil & Gas Co. (NYSE:COG) traded down $0.25 during mid-day trading on Monday, reaching $29.14. 1,853,378 shares of the company’s stock were exchanged, compared to its average volume of 6,068,833. Cabot Oil & Gas Co. has a 52-week low of $20.55 and a 52-week high of $29.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.61. The firm has a market cap of $13,590.00, a price-to-earnings ratio of 77.34, a P/E/G ratio of 1.97 and a beta of 0.51.
Cabot Oil & Gas Co. (NYSE:COG) last issued its quarterly earnings data on Friday, October 27th. The oil and gas exploration company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Cabot Oil & Gas Co. had a return on equity of 2.67% and a net margin of 4.56%. The firm had revenue of $385.40 million during the quarter, compared to analyst estimates of $400.85 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. research analysts predict that Cabot Oil & Gas Co. will post 0.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.69%. Cabot Oil & Gas Co.’s dividend payout ratio is currently -62.50%.
Cabot Oil & Gas Co. Profile
Cabot Oil & Gas Corporation is an independent oil and gas company engaged in the development, exploitation and exploration of oil and gas properties. The Company operates in the segment of natural gas and oil development, exploitation, exploration and production, in the continental United States. Its assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs.
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